MPIC joins global reporting network on nature-related risks

MANILA, Philippines — Metro Pacific Investments Corp. (MPIC) recently became the pioneer company in Southeast Asia to join the Taskforce on Nature-related Financial Disclosures Alliance (TNFD) Forum, a global and multi-disciplinary consultative network of institutional supporters who expressed willingness to contribute to the work and mission of the task force.

The forum provides an important complementary role in the TNFD governance structure, including supporting the development of the TNFD framework in its five phases – building, testing, consulting, launch and dissemination, and uptake.

Over the next two years, MPIC will champion the TNFD in the Philippines to encourage the country’s corporate and financial institutions to embrace the importance of reporting and acting on evolving nature-related risks.

Successively, the company will adopt the framework once it is launched in 2023. “We are committed to fully support the work of the task force and contribute to the ultimate goal of curbing nature loss in any way we can,” MPIC chairman Manuel V. Pangilinan said.

“MPIC has always made strategic and calculated efforts to conduct its businesses with nature-related risks and impacts in mind,” shared MPIC chief finance, risk, and sustainability officer Chaye Cabal-Revilla.

“Recognizing that all our businesses have pervasive influence not just in our national progress but in our country’s natural resources protection and conservation, we ensure that environmental stewardship is embedded in our key businesses and investment strategies. We support the TNFD in its mission to deliver a risk management and disclosure framework for organizations, which will hopefully serve as a catalyst towards a nature-positive global economy.”

The TNFD aims to develop, establish, and promote an integrated risk management and disclosure framework that aggregates the best tools and materials.

The forum is intended to support their work by providing access to a large-scale and diverse collective of technical expertise and practical experience, which will aid in the continuous development of this framework.

The task force pivots away from creating a new disclosure standard but will instead promote worldwide consistency for nature-related reporting.

The TNFD’s work will build on seven principles: market usability, science-based, nature-related risks, purpose-driven, integrated and adaptive, climate-nature nexus and globally inclusive.

“We are glad to be part of this global initiative. Having a standardized framework will help us in MPIC to further evaluate our nature-related risks and opportunities that will be critical in future-proofing our business,” MPIC president and CEO Jose Ma. K. Lim said.